Exercise # 32 The Midland National Bank selected a sample of 40 student checking accounts. Below are their end-of-the-month balances:

404 87 703 968

74 234 125 712

234 68 350 503

149 489 440 489

279 57 37 327

215 185 252 608

123 141 27 358

55 758 521 425

43 72 302 303

321 863 127 203

a) Tally the data into a frequency distribution using $100 as a class interval and $0 as the starting point. b) Draw a cumulative frequency polygon. c) The bank considers any student with an ending balance of $400 or more a "preferred customer." Estimate the percentage of preferred customers. d) The bank is also considering a service charge to the lowest 10% of the ending balances. What would you recommend as the cutoff point between those who have to pay a service charge and those who do not?

The numbers of shareholders are to be organized into a frequency distribution & several graphs drawn to portray the distribution. a) b) c) d) Using seven classes and a lower limit of 130, construct a FD. Portray the distribution as a frequency polygon Portray the distribution in a cumulative frequency polygon. According to the polygon, 3 out of 4 (75%) of the companies have how many share holders or less?

e) Wright a brief analysis of the number of shareholders based on the FD & graphs.

b) To draw cumulative distribution table, we scale the upper limit of each class along the X-axis and the corresponding cumulative frequency along the Y-axis. To provide additional information, we label the vertical axis on the left from 0 to 40 units and the vertical axis on the right from 0 to 100 percent. To begin the plotting, 9 students has the end-of-month balances for less than $100, so the first plot is at X=100 and Y=9, the coordinate of the next plot are X=200 and Y=15. The rest of the points are plotted and then the dots connected to form the chart.

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5. Wellstone, Inc., produces and markets replacement covers for cell phones in a variety of colors. The company would like to allocate its production plans to five different colors: bright white, metallic black, magnetic lime tangerine orange, and fusion red. The company set up a kiosk in the Mall of America for several hours and ask randomly selected people which cover color was their favorite:
Bright white 130
Metallic black 104
Tangerine orange 455
Fusion red 286
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B. Draw a bar chart in the table.
C. Draw a pie chart.
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27, 27, 27, 28, 27, 25, 25, 28
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...Statistics:
• Science of gathering, analyzing, interpreting, and presenting data
• Measurement taken on a sample
• Type of distribution being used to analyze data
Descriptive statistics:
Using data gathered on a group to describe or reach conclusions about that same group only. Descriptive statistics are the tabular, graphical, and numerical methods used to summarize data.
Collect, organize, summarize, display, analyze
Eg: According to Consumer Reports, General Electric washing machine owners reported 9 problems per 100 machines during 2002. The statistic 9 describes the number of problems out of every 100 machines.
Inferential statistics:
Using sample data to reach conclusions about the population from which the sample was taken. Statistical inference is the process of using data obtained from a small group of elements (the sample) to make estimates and test hypotheses about the characteristics of a larger group of elements (the population).
Predict/forecast, make estimates about population behavior based on sample, , test hypothesis, make decisions
Eg 1: TV networks constantly monitor the popularity of their programs by hiring Nielsen and other organizations to sample the preferences of TV viewers.
Eg 2: The accounting department of a large firm will select a sample of the invoices to check for accuracy for all the invoices of the company.
Data:
Data are the facts and figures that are collected, summarized, analyzed, and...

...illustrate trends, etc.
TO ADVOCATE AN ISSUE
TO SHOW THE STATUS OF AN INDICATOR
TO COMPARE INDICATORS
TO DEMONSTRATE CORRELATIONS
TO ILLUSTRATE TRENDS
INFOGRAPHICS USING EXCEL
Frequency Tables and Histograms Charts : create and format charts Conditional Formatting Sparklines Excel GraphicsFREQUENCYDISTRIBUTION
Shows how many observations fall in various categories(bins) Can be represented in a Frequency Table To obtain a Frequency Table for any given data, we must first choose appropriate number of bins Each bin defines a “slot” where some values may fall in There is no set rule for choosing no of bins (good practice is 8 to 15) Need enough categories to get a meaningful distribution, but too many categories will result in few observations per category
A FREQUENCY TABLE OF MARKS OBTAINED
Mark Range (Bins) 1-2 3-4 5-6 7-8 9-10
Frequency
2 15 25 18 5
HISTOGRAM
A histogram is the graphical analog of a frequency table Histograms show the frequency with which various category/bin values appears in the data set (e.g., how many students received marks between 2 and 3) The X-axis of a histogram shows the possible categories and the Y-axis show the frequency
CREATING A HISTOGRAM IN EXCEL
Identify the bins, and define bin range Create Frequency...

...19.4 There are a number of graphicpresentation forms. Which would you recommend
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2. When showing more than one line, use different line types (solid, dashed, dotted,
dash dot) to enable to reader to easily distinguish among them.
3. Try not to put more than four lines in one chart.
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Since the length of the bar or distance above the baseline indicates the statistic, it is
important that graphs give accurate visual impressions of values. A good way to achieve
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...TUI
FrequencyDistributions
Module 3/Case
10/148/2012
Professor Kuleshov
FrequencyDistributions
This assignment is based on FrequencyDistributions and will include the following information:
1. The ability to describe the information provided by the Standard Deviation.
2. The ability to use the Standard Deviation to calculate the percentage of occurrence of a variable either above or below a particular value.
3. The ability to describe a normal distribution as evidenced by a bell shaped curve as well as the ability to prepare a distribution chart from a set of data (module 3 Case).
Part 1
(1) To get the best deal on a CD player, Tom called eight appliance stores and asked the cost of a specific model. The prices he was quoted are listed below:
$ 298 $ 125 $ 511 $ 157 $ 231 $ 230 $ 304 $ 372 Find the Standard deviation
$ 298 + $ 125+ $ 511+ $ 157+ $ 231+ $ 230+ $ 304+ $ 372= 2228/8 = 278.5(subtract from #s)
19,-153, 232, -121, -47, -48, 25, 93 (square numbers)
380, 2356, 54056, 14762, 2256, 2352, 650, 8742 = 106(added)
(Divide by 7) 15251 (take square root) Standard Deviation = approximately 123.
(2) When investigating times required for drive-through service, the following results (in seconds) were obtained. Find the range, variance, and standard...

... FrequencyDistribution
(A) Introduction
1. Ungrouped data versus grouped data
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2. The components of a frequencydistribution
a. Class limits: They identify the inclusive values in a class of a frequencydistribution
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The lower class limit (LL) refers to the smallest value that can go into any given class.
b. Class boundaries: They are the specific points along a measurement scale that separate adjoining classes.
•A class boundary (Bu or BL) is the point halfway between the upper limit of one class and the lower limit of the next class.
•For discrete data, class boundaries are identical to class limits.
c. Class interval (i): It indicates the range of values included in each class.
•It is the difference between the upper and lower boundaries values of each class
•It is the difference between the upper (lower) limit of one class and upper (lower) limit of the next class.
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...FREQUENCYDISTRIBUTION
WHAT IT IS Frequencydistributions summarize and compress data by grouping it into classes and recording how many data points fall into each class. That is, they show how many observations on a given variable have a particular attribute. For example, a survey is taken of 50 people's favorite color. The frequencydistribution might indicate 15 people selected green, 12 blue, 6 red, 7 yellow, and 10 purple. Converting these raw numbers into percentages would then provide an even more useful description of the data. The frequencydistribution is the foundation of descriptive statistics. It is a prerequisite for both the various graphs used to display data and the basic statistics used to describe a data set -- mean, median, mode, variance, standard deviation, and so forth. Note that frequencydistributions are generally used to describe both nominal and interval data, though they can describe ordinal data.
WHEN TO USE IT A frequencydistribution should be constructed for virtually all data sets. They
are especially useful whenever a broad, easily understood description of data
concentration and spread is needed. Most data provided by third parties are
grouped into a frequencydistribution.
Preparation The steps in preparing frequency...

...I found the concept on frequencydistribution using Google and the search words “frequencydistribution” at http://www.mathsisfun.com/data/frequency-distribution.html
This website is geared towards younger people and therefore breaks down frequencydistribution into very basic terms: values and their frequency (how often each value occurs). The website uses the example of a child’s soccer team and how many goals they scored in recent games.
For the assignment this week, I have chosen to use the raw data of shoe sizes of my co-workers and how often these shoe sizes occur and show how to put them into a frequencydistribution table. Because there are only 4 females in my division, I have stuck with only the male shoe sizes of 20 co-workers.
Raw Data
10 12 9 10 11
8 10 11 10 9
9 8 11 10 10
12 10 9 10 11
Each raw data value is now placed into a class. Since my range of data is small, I’m going to use single data values.
Distribution Table
Class Limits Tally Frequency
8 II 2
9 IIII 4
10 IIII IIII 8
11 IIII 4
12 II 2
Total: 20
This can also be done in excel by following the instructions for a categorical frequency table for qualitative or discrete data on page 2-15 (49) of our textbook.
Taking it a step forward, the information can then be used in a pie chart to visually...